Maruti Suzuki India Unveils Costliest Vehicle in Pursuit of SUV Market Dominance

Maruti Suzuki India, the country's leading car maker, made a significant move on by introducing its most expensive vehicle yet, as it sets out to become the dominant player in the highly competitive sports utility vehicle (SUV) market. The newly launched three-row multipurpose vehicle, Invicto, is a cross-badged version of the Toyota Hycross and is priced between Rs 24.79 lakh and Rs 28.42 lakh.

In just one year, Maruti Suzuki has made remarkable strides in the SUV segment, increasing its market share from 8.5% to nearly 20% in the first quarter of this fiscal year. With the successful launches of the new Brezza, Fronx, and Jimny, the company aims to surpass its competitors and secure the top position in the SUV market.

Hisashi Takeuchi, CEO and managing director of Maruti Suzuki India, expressed confidence in the company's future prospects, stating, "While we currently hold the second position in the industry, it is only a matter of time before we claim the number one spot in the SUV segment." Shashank Srivastava, executive director of Maruti Suzuki India, added that the company is well on track to achieve its target of a 25% market share in SUVs by the end of the fiscal year.

Maruti Suzuki's success in the SUV segment is integral to its support of parent company Suzuki Motor Corporation's ambitious goal of doubling its turnover to Rs 4.32 lakh crore by FY 30-31. With an investment of Rs 2.8 lakh crore, Suzuki is determined to achieve its global turnover goal.

During the launch event of the Invicto, Takeuchi highlighted the company's recent achievements in the SUV segment and expressed satisfaction with the substantial increase in market share. Maruti Suzuki is also expanding its manufacturing capacity with the upcoming Kharkhoda plant in Haryana, which will have an annual capacity of 10 lakh units.

Furthermore, the company has obtained board approval to further expand production capacity by an additional 10 lakh units. With these aggressive growth plans and a lineup of successful SUV models, Maruti Suzuki is poised to solidify its position as a dominant force in the Indian SUV market.